Bitcoin Price Plummets 2%, What’s Behind the Drop?

• Bitcoin price has dropped 2 percent today and is trading around $23.4k on Friday.
• On-chain data shows Bitcoin miners have reduced their sell pressure after taking profits in the past few weeks, while whales continue to accumulate Sats.
• Popular crypto analyst Rekt Capital thinks Bitcoin will break the macro downtrend next month or in April.

Bitcoin Price Down Today

Bitcoin price has edged 2 percent lower today to trade around $23.4k on Friday. After retesting $24k twice on the four-hour time frame, the RSI indicator has formed a falling divergence that most often leads to a price dump. Bitcoin bulls should be extremely careful with the death cross, which entails the 50 and 200 WMAs, not to happen for the first time since its inception.

Significance of 50/200 WMAs

The 50 and 200 WMAs have acted as a support line for the past ten-plus years and would turn to a resistance line if the death cross occurs. Nevertheless, popular crypto analyst Rekt Capital thinks Bitcoin will break the macro downtrend next month or in April. Moreover, on-chain data shows Bitcoin miners have reduced their sell pressure after taking profits in the past few weeks. Additionally, whales continue to accumulate more Sats irrespective of the price volatility.

Macroeconomic Influence

By now, it is safe to say that Bitcoin price has a significant correlation with global market indexes due to high institutional adoption and crypto regulations. During the last few days, Bitcoin price has reacted to news from Federal Reserve statement regarding interest rates which weakened US Dollar making BTC edge higher to $24k mark. With more high-impact news expected from United States later today on unemployment rate, more volatility is expected during weekend in crypto market space.

Reaction From Crypto Analysts

Mathew Dixon CEO Evai notes that DXY is likely going retest what was once support and now overhead resistance aligning with his inverse expectation on BTC and Crypto moving down before final ‘blowoff’ high (not much higher imo). Meanwhile popular crypto analyst Rekt Capital believes that BTC will break macro downtrend either next month or April 2024 when Halving event takes place 425 days away from now .

Conclusion

Crypto markets are highly influenced by macroeconomic events such as changes in interest rates or unemployment status hence traders should be aware of how these events can affect prices even though we see bullish trends throughout 2021 so far analysts suggest being careful while trading because of volatile nature of cryptocurrency markets .

Crypto Miners Receive a Reprieve as Bitcoin Price Surges 34%

• According to hashrateindex, crypto miners have raised a total of $1.8 billion in financing deals in the past two years.
• As of late, the crypto market has taken a turn for the worse, causing several crypto mining firms to file for bankruptcy.
• Despite this, Bitcoin prices have surged by 34% in the past week, providing miners with a much-needed reprieve.

Crypto miners have been a crucial part of the growth and operation of the Bitcoin network in the past two years. In 2020 alone, six ASIC financing deals were executed worth $47.84 million and the following year saw 26 financing deals completed, amounting to an impressive $662.25 million. Last year, the crypto mining industry raised a total of $641.80 million in 18 deals.

However, the situation has taken a drastic turn for the worse for miners following a significant shrink in crypto prices towards the end of last year. As a result, several crypto mining firms have been forced to file for bankruptcy protection, with some even selling off their rigs in order to pay off their debts. The situation has been exacerbated by the rising global inflation that has led to high electricity bills. As of now, updated Bitcoin mining rigs on average return a daily profit of about $5 depending on the location and difficulty.

Fast forward to the fourth week of 2023, and Bitcoin price has gained about 34 percent to trade around $22.6k on Wednesday. This has provided miners with some much-needed reprieve, with sentiment among them being better than it has been in a long time. Many of those who were on the brink of bankruptcy have been given a lifeline due to the sudden increase in the bitcoin price.

It remains to be seen if the crypto rally will continue and if miners will be able to stay profitable. With the ongoing inflation and rising electricity prices, the future of crypto mining remains uncertain.

Dogecoin Price on the Rise, Crypto Analysts Predict Bull Market Ahead

• Dogecoin’s price has been rising since Elon Musk acquired Twitter Inc. last year, forming a falling wedge which usually signals that the trend will resume.
• The 200W MA has supported the price in the past two days, breaking out of the multi-week falling trend.
• Crypto analysts believe the next probable trend in Dogecoin will be a multi-week consolidation before the next bull market takes place.

Elon Musk’s acquisition of Twitter Inc. late last year has caused a surge of interest in Dogecoin, the meme-based cryptocurrency. The Dogecoin price has been on a steady rise ever since, forming a typical falling wedge pattern usually seen as a sign that the trend will continue in the future.

The 200-week moving average (MA) has supported the Dogecoin price in the past two days, helping it break out of the multi-week falling trend. Market analysts believe that the Dogecoin price could soon rally beyond its October highs of around $0.159. However, this narrative could be invalidated should the price fall below the trend line support.

At the time of writing, Dogecoin is trading around $0.084497 and has recorded a gain of 18 percent in the past 14 days. The ninth-largest digital asset has a market capitalization of approximately $11,649,383,387 and a 24-hour trading volume of about $526,969,058. Furthermore, Dogecoin has seen total liquidations of approximately $1.61 million in the past 24 hours according to aggregate data provided by Coinglass.

Crypto analysts predict that Dogecoin will go through a multi-week consolidation period before the next bull market takes place. This consolidation pattern has been seen in the past two bear markets that Dogecoin has experienced, first between 2014-2017 and then again between 2018-2020. We can expect Dogecoin to remain relatively stable during this period, giving investors the opportunity to enter at a good price point.

Overall, Dogecoin has seen a promising surge in price recently and is now making a case for itself as a legitimate cryptocurrency investment. With the 200-week MA supporting the price and a multi-week consolidation period on the horizon, the future looks bright for Dogecoin.

10 Strategies for Maximizing Bitcoin Mining Profitability

Making money by mining bitcoins has grown in popularity. If you don’t have the necessary information and tools, it’s difficult to do. You must be aware of the proper tactics and methods if you want to optimize your mining profits. We’ll look at 10 ideas in this post that can help you increase the profitability of your Bitcoin mining.

Recognizing Mining Benefits

To increase your Bitcoin mining earnings, you must first have a thorough understanding of how incentives are determined. The following equation determines the payout for successful mining:

Reward is calculated as (Difficulty * 232) / (Hashrate * Time).

The difficulty is a gauge of how challenging the issue that miners are vying to solve is. The amount of computer power used to solve the issue is known as the hashrate. The payout increases in direct proportion to hashrate.

The Best Mining Equipment to Purchase

You must invest in the most effective mining hardware if you want to increase your Bitcoin mining revenues. The most effective miners produce the maximum hashrate while using the least amount of power. Before investing in a miner, make sure to do your homework.

Bringing Down the Price of Electricity

You need to make sure you’re receiving the greatest rate because mining Bitcoin uses a lot of power. This may be accomplished by comparing electricity prices or by making an investment in renewable energy sources like solar or wind power.

Using Platform to Invest in Bitcoin

A well-known online trading site called Bitcoin Pro gives users the chance to buy Bitcoin. The website allows investors to purchase and sell Bitcoin as well as mimic the transactions of seasoned investors.

Getting in on Mining Pools

Miners may combine their resources and share the rewards through mining pools. You may improve your chances of success and raise your mining earnings by joining a mining pool.

Cloud mining services use

Utilizing cloud mining services, miners may lease or rent mining equipment and split the profits. Without having to spend money on pricey mining equipment, this might be a terrific method to increase your mining revenues.

Using Multiple Algorithms for Mining

Mining numerous algorithms simultaneously is possible thanks to multi-algorithm mining. By doing this, you may enhance your mining rewards and optimize your earnings.

Using Bitcoin Mining Software to Your Advantage

By automating the mining process, bitcoin mining software can assist you in maximizing your revenues. Before making a purchase, make sure to explore the various mining software possibilities.

Keeping Current With Crypto News

Being current with news and trends is essential since cryptocurrency markets may be unstable. Be careful to often monitor forums and news websites for cryptocurrencies.

Conclusion

Bitcoin mining is a difficult but potentially rewarding form of income. You must be familiar with all aspects of the mining process and employ the proper methods and strategies if you want to optimize your income. You may increase the profitability of your Bitcoin mining by using the methods described in this article.

Bitcoin Price Hits Three-Week High Amid Looming DCG Insolvency Fears

• Bitcoin’s (BTC) price has surged to a three-week high after Sunday’s breakout above $17k.
• The tension in the Bitcoin and cryptocurrency market remains high in the coming weeks with DCG insolvency fears.
• Analysts believe crypto prices have already factored in the FTX and Alameda debacle and the ongoing Gemini Earn customers fiasco could be signaling the end of the 2022 bear market.

Bitcoin has seen a surge in its price over the weekend, hitting a three-week high of above $17k. This has been met with a positive reaction from the cryptocurrency market, with analysts and traders alike cheering the move as a sign of bullish sentiment. However, the market still remains tense with the fear of insolvency from Digital Currency Group (DCG) still looming large.

The Federal Reserve is set to make an announcement this week regarding key monetary policies, while the Consumer Price Index (CPI) data is also expected. This has put the crypto market under a bit of pressure, as any major decisions could have an effect on Bitcoin prices. However, the market has seen some optimism from analysts, who point to key on-chain data from Glass node as evidence of a bullish sentiment. The data shows more calls than puts in Bitcoin trades in 2023 Q1, which could indicate a strong liquidity and volatility indicator for spot prices.

The FTX and Alameda debacle, as well as the ongoing Gemini Earn customers fiasco, have already been factored into the crypto market, according to analysts. This could be a sign that the bear market of 2022 is finally coming to an end, although it is still too early to tell. CryptoQuant’s on-chain analyst VentureFounder believes that Bitcoin is currently at a crucial crossroads, and that a breakout of up to 20% is on the horizon. Bitcoin has been trapped between $16k and $18.5k for the past two months, and a move either way could have a significant impact on the market.

Overall, the cryptocurrency market remains in a state of flux, with Bitcoin prices still trapped at a crucial crossroads. The coming week could be a make or break moment for the cryptocurrency market, as the Federal Reserve’s announcement and the CPI data could have a dramatic effect on prices. Additionally, the Gemini Earn customers fiasco and the FTX and Alameda debacle have already been factored into the market, which could be a sign that the bear market of 2022 is coming to an end. However, only time will tell if Bitcoin prices will breakout of the current range and surge towards its all-time high.

Investors Look to Sparklo (SPRK): A Cryptocurrency Combining the Best of Cardano (ADA) and Litecoin (LTC)!

• Investors have shifted their focus from cryptocurrencies like Cardano (ADA) and Litecoin (LTC) to new and innovative cryptocurrencies like Sparklo (SPRK).
• Litecoin (LTC) is a peer-to-peer cryptocurrency that was designed to replace Bitcoin. It allows merchants to accept payments and people to make payments swiftly on the blockchain.
• The bear market has caused the growth of Litecoin (LTC) to stagnate, and investors are now looking for alternative investments that can provide the potential for higher returns.

The cryptocurrency market has always seen its fair share of ups and downs, and some of the most successful cryptocurrencies of the past are currently facing difficulties. Cardano (ADA) and Litecoin (LTC) are two examples of this, with investors now turning to new and innovative cryptocurrencies to get the potential for higher returns.

One of the most popular cryptocurrencies in the market right now is Sparklo (SPRK). Sparklo is an innovative cryptocurrency that combines the best features of both Cardano (ADA) and Litecoin (LTC). It has been created to provide users with a secure, reliable and fast platform for making payments and investing in cryptocurrencies.

Litecoin (LTC) has been around for over 10 years and was designed to replace Bitcoin as a peer-to-peer cryptocurrency. It allows merchants to accept payments and people to make payments to the merchants swiftly on the blockchain. The developers behind Litecoin (LTC) addressed some of the most challenging issues that Bitcoin had as a cryptocurrency.

However, the bear market has halted the growth of Litecoin (LTC), and investors are now looking for alternative investments that can provide the potential for higher returns. This is where Sparklo (SPRK) comes in, as it combines the best features of both Cardano (ADA) and Litecoin (LTC).

Sparklo (SPRK) is built on an improved blockchain technology that is faster, more secure, and more energy efficient than the current blockchain technology. The network also uses a consensus algorithm called “Proof of Stake” for its transactions, which is more secure and efficient than the traditional “Proof of Work” algorithm used in Bitcoin.

The Sparklo (SPRK) network also has a built-in token economy, which allows users to earn rewards for participating in the network. This token economy incentivizes users to participate in the network and makes it easier for merchants to accept payments without having to pay hefty transaction fees.

Sparklo (SPRK) also has a built-in DEX, or decentralized exchange. This DEX allows users to trade their Sparklo (SPRK) tokens for other cryptocurrencies, as well as providing a platform for developers to launch their own tokens.

Overall, Sparklo (SPRK) is a promising cryptocurrency that combines the best features of both Cardano (ADA) and Litecoin (LTC). It is built on an improved blockchain technology that is faster, more secure, and more energy efficient than the current blockchain technology. The network also has a built-in token economy and DEX, which makes it easier for merchants to accept payments and for users to trade their Sparklo (SPRK) tokens. With its combination of features, Sparklo (SPRK) is a cryptocurrency that investors should definitely keep an eye on.

Crypto Markets Ready for Upturn After Historic Bearish Close in 2022

1) Crypto markets are expected to close the 2022 yearly trade with a bearish sentiment, indicating consolidation in the coming days.
2) Popular crypto assets like Bitcoin, Ethereum, Cardano, Ripple, and Solana, are likely to remain within an accumulation phase for an extended period.
3) Analysts predict that Bitcoin and Ethereum prices will remain relatively stable in January 2023.

The end of the year 2022 has marked a historic bearish close in the crypto markets. After a massive bull run that sent prices of popular crypto assets through the roof, investors have seen a cleansing of the markets as the unwanted characters exited. Now, the market is believed to be ready for a notable upswing ahead.

The market sentiment remains low, with few positive waves hovering around the yearly close. This indicates that the consolidation phase will prevail for an extended period, and the prices of popular crypto assets are expected to drop heavily in the coming days. Bitcoin, Ethereum, Cardano, Ripple, and Solana, are among the most popular crypto assets in the market that are expected to remain within an accumulation phase for a long period.

Analysts have been closely monitoring the market and have come up with their top predictions for January 2023. According to forecasts, Bitcoin and Ethereum are expected to remain relatively stable in the coming months. Bitcoin’s price is predicted to be in the range of $19,000-$20,000, while Ethereum is forecasted to stay around the $550 mark. Cardano, Ripple, and Solana are also expected to stay within their respective ranges.

The crypto market is expected to see some major changes in the coming months as the industry continues to grow. Several new projects and innovations are in the works, and the increased adoption of cryptocurrencies is likely to bring in more investors to the market. This could potentially lead to an increase in prices, and investors are advised to keep an eye on the market in the coming months.

Overall, the crypto markets are expected to remain volatile in the near future, and investors should approach their investments with caution. It is essential to keep track of the latest news and developments to make the most out of your investments and stay ahead of the game.

Get in on the Early-Stage Investment Game with Orbeon Protocol (ORBN)

• Orbeon Protocol (ORBN) is outperforming the market during its third presale phase, with some predictions stating the token could rise by 6000%.
• Zcash (ZEC) and Filecoin (FIL) have dropped, but could represent an opportunity for holders to buy in and double down on their holdings.
• Orbeon Protocol (ORBN) allows any investor, regardless of their level of experience or wealth, to easily invest in early-stage startups by minting fractionalized NFTs that are backed by the start-up’s equity.

Investment opportunities have traditionally been limited to accredited investors with deep pockets and exclusive contacts. But, with the rise of cryptocurrency and blockchain technology, new opportunities are emerging for all investors to get involved in the early stages of start-up investments. Orbeon Protocol (ORBN) is one such project that is providing investment opportunities to all investors regardless of their level of experience or wealth.

Orbeon Protocol (ORBN) is a blockchain-based platform that mints fractionalized NFTs that are backed by a start-up’s equity. These NFTs are then made available to investors in the form of ORBN tokens. ORBN tokens are used to purchase fractional shares of the start-up, allowing any investor to easily invest in early-stage startups.

So far, the performance of ORBN has been impressive. During phase 3 of the presale, some predictions are stating that the token could rise by 6000%. This is in direct contrast to the performance of two major cryptocurrencies – Zcash (ZEC) and Filecoin (FIL) – which have dropped. This could represent an opportunity for holders to double down on their holdings.

The ORBN Platform is able to provide investors with access to a wide range of early-stage startups. Through the platform, investors can view detailed information about the startups, such as their business plans, financials, and team members. This allows investors to make more informed decisions and increase their chances of success.

In addition, the ORBN Platform also provides investors with access to a number of tools and services that can help them manage their investments. These tools and services include portfolio tracking, market analysis, and price alert notifications. All of these tools and services make it easier for investors to make the most of their investments.

Overall, Orbeon Protocol (ORBN) is providing investors with the opportunity to access some of the best investment opportunities in the world. By utilizing fractionalized NFTs that are backed by a start-up’s equity, investors can easily invest in early-stage startups and reap the rewards of their investments. Furthermore, the platform is also providing investors with a number of tools and services that can help them manage their investments and increase their chances of success.

Alameda Research Sells $1.7M in Crypto Assets, Raising Suspicions

• Alameda Research, a trading business owned by SBF, dumped $1.7 million worth of crypto assets on the open market.
• The assets were then exchanged for Bitcoin on trading platforms such as FixedFloat and ChangeNow.
• The recent transfer of assets from FTX has raised concerns among the community.

On December 28th, a significant amount of tokens owned by SBF’s trading business Alameda Research were sold into the open market. Cryptocurrency research company Arkham Intelligence reported that approximately $1.7 million worth of Ether, USDC, DAI, and CRV tokens were traded over several hours from wallets connected to the company. The assets were then exchanged on platforms such as FixedFloat and ChangeNow for Bitcoin.

The recent transfer of assets raised a number of concerns within the crypto community. It is possible that the transfers were an inside job to remove whatever is left in the wallets, including the $112 million mentioned previously. This coincides with SBF’s bailout, and continued transfers of funds from Alameda. These transfers have decreased the total value of cryptocurrencies held by Alameda from $140 million in the middle of November to $112 million.

The situation has become increasingly suspicious as the assets were sold for Bitcoin, which is seen as a safe-haven asset. This suggests that the team at Alameda may be trying to protect their funds from any potential losses. However, the exact reasons for the transfer of funds remain unclear.

It is worth noting that this is not the first time that Alameda has been involved in controversy. The company was previously accused of being involved in wash trading and market manipulation. In addition, SBF has been accused of insider trading and running a Ponzi scheme.

The recent transfer of assets has cast a shadow on Alameda, and it remains to be seen how the company will respond to the allegations. In the meantime, it is important to remain vigilant, and keep an eye on the situation as it unfolds.

Bitcoin’s Best Month? Daan Crypto Weighs in on BTC’s 2023 Prospects

• According to Daan Crypto, January has historically not been Bitcoin’s „best month“ as 60% of the months since 2013 have resulted in a negative return.
• February has been BTC’s best ‚returning‘ month.
• Data is not a reliable indicator for future returns.

The price of bitcoin had already dropped significantly in 2022 before the abrupt failure of the trading site FTX last month. After a lackluster 2022, all eyes are on Bitcoin as it enters 2023 with high expectations. Bitcoin enthusiasts are looking to the future with hope, with the digital currency in a prime position to make a comeback.

One of the most important figures in the crypto world, Daan Crypto, recently weighed in on the prospects for Bitcoin in the new year. According to him, January has historically not been Bitcoin’s „best month,“ as 60% of the months since 2013 have resulted in a negative return. Moreover, the percentage change on average in January is quite large, both up and down.

However, Daan Crypto also offered some hope, revealing that February has been BTC’s best ‚returning‘ month. This data is not a reliable indicator for future returns, however, and should be used with caution. With this in mind, Bitcoin could still make a comeback in the new year if February is kind to it.

Many experts remain bullish on Bitcoin in the long term, pointing to the strong fundamentals behind the digital currency. With its finite supply, decentralized nature, and growing adoption, Bitcoin is well-positioned to make a comeback in 2023. Moreover, the upcoming halving event could provide the necessary catalyst for Bitcoin to move higher.

At the same time, it is important for investors to practice caution. Cryptocurrency markets are notoriously volatile, and there is no guarantee that Bitcoin will make a comeback. As always, investors should ensure that they are only investing what they can afford to lose. With this in mind, the new year could be a game-changer for Bitcoin.

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